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May 25 2012 19:13
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The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - Furniture maker and distributor Steinhoff International said on Monday that its trading operations
have been affected to a varying degree by the global economic slowdown and negative consumer sentiment.
"But overall, Steinhoff's retail operations are benefiting from a marked shift in consumers' trading patterns and preferences more towards the value and discount segments of the markets," said Markus Jooste, the group's CEO.
Steinhoff, which also operates in the motor sector through its unit Unitrans, said the logistics business continued to see growth of over 30%, but its motor retail unit was affected by the total market decline.
The parts and services division remained a strong performer on the back of record vehicle sales in the past three years, while Hertz car rental is experiencing declines within the inbound overseas tourist market.
- I-Net Bridge